Electricals group Dixons has offloaded eight of its 34 PC City stores in Spain to Portuguese retailer Sonae, which aims to expand in the country.
The terms of the disposal have not been disclosed, but Dixons – which runs Currys and PC World in the UK – said last month that it would quit Spain, where the business had been making losses.
The exit from Spain is part of Dixons’ four-point plan to respond to harsh trading conditions which had prompted the retailer to issue a profit warning.
The planks of the plan are to focus on winning markets and store models, concentrate capital expenditure on the highest return projects, prioritise cash generation and cut costs.
The Sonae deal is expected to preserve 350 roles at PC City in Spain. It is not known whether deals may be done on other parts of the Spanish PC City business.
No comments yet